mortgage participation certificate

mortgage participation certificate

A pass-through security that represents ownership in a pool of conventional mortgages put together by Freddie Mac. Principal and interest on the certificates are guaranteed by Freddie Mac and the income is subject to federal, state, and local taxation. See also pass-through security.
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The latter consist of mortgages purchased and then sold to investors through our mortgage participation certificate (PC) program.
Mark-to-market: Freddie Mac's fourth financial statement

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